The dollar-yen rate was largely flat in the Tokyo market on the afternoon of the 16th, with moments when it fell slightly below the level in the first half of the ¥155 range rather than the ¥188 range. Japan's exports rose 19.3% year on year in August, marking growth for the 12th consecutive month and providing a factor supporting the yen.
The dollar-yen rate was largely flat in the Tokyo market on the afternoon of the 16th, reaching as low as ¥155.10 around 3:30 p.m. It moved slightly below the previous day's closing level, and some market participants began to argue that expectations of a US rate hike were not being treated as a market driver.
Meanwhile, Japan's exports rose 19.3% year on year in August, marking growth for the 12th consecutive month. The increase in exports was cited as a factor supporting the yen. The trading ranges were 154.21 to 154.89 for dollar-yen, 178.88 to 179.35 for euro-yen, and 1.1532 to 1.1552 for euro-dollar.
Attention focused on developments surrounding expectations that the Bank of England (BOE) Monetary Policy Committee (MPC) would leave its policy rate unchanged this week, and pound-dollar traded somewhat weaker.